Salvatore Ferragamo (OTCMKTS:SFRGY) Shares Gap Up – Still a Buy?

Salvatore Ferragamo S.p.A. (OTCMKTS:SFRGY) gapped up before the market opened on Monday . The stock had previously closed at $5.2810, but opened at $5.66. Salvatore Ferragamo shares last traded at $5.66, with a volume of 251 shares traded.

Analyst Upgrades and Downgrades

SFRGY has been the subject of a number of recent analyst reports. Zacks Research raised Salvatore Ferragamo to a “hold” rating in a research report on Thursday, June 25th. Citigroup reaffirmed a “neutral” rating on shares of Salvatore Ferragamo in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Salvatore Ferragamo Stock Performance

The stock’s 50-day simple moving average is $5.83 and its 200-day simple moving average is $4.90.

About Salvatore Ferragamo

Salvatore Ferragamo S.p.A. operates as a designer, producer and distributor of high-end luxury footwear, leather goods, apparel and accessories. The company’s product portfolio spans men’s and women’s shoes, handbags, small leather items, silk products, ready-to-wear collections, eyewear, fragrances and watches. Through its vertically integrated business model, Ferragamo controls key aspects of the value chain, from design and manufacturing to wholesale distribution and direct-to-consumer retail.

Founded in 1927 by Italian shoemaker Salvatore Ferragamo, the company is headquartered in Florence, Italy and has grown into a globally recognized luxury brand.